Please do not give image format Canyon Dental Services is a specialized dental practice whose only service is filling cavities. Canyon has recorded the following for thepast nine months:MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberNumber of Cavities.Filled300375625400650600350675550Required:1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled.2. Using these estimates, calculate Canyon's total cost for filling 700 cavities.Required 1 Required 2Total Cost$ 5,1005,3006,3505,2006,3006,3005,000Complete this question by entering your answers in the tabs below.6,3006,000Fixed costVariable cost per cavity filledUse the high-low method to estimate total fixed cost and variable cost per cavity filled.Note: Round your Variable cost per unit to 2 decimal places.$$3,2255.00< Required 1Required 2 >

Lets understand the basics. In high low method, total costs are bifurcated into variable costs and…

Answered: Canyon Dental Services is a specialized…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter3: Cost Behavior

Section: Chapter Questions

Problem 18E

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Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the following for the past nine months: Month Number of Cavities Filled Total Cost January 625 $5,600 February 700 6,000 March 500 4,500 April 425 4,100 May 450 4,500 June 300 3,200 July 375 3,500 August 550 4,900 September 575 5,400 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. 2. Using these estimates, calculate Mountain’s total cost for filling 500 cavities.
Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the following for the past nine months: Month Number of Cavities Filled Total Cost January 300 $5,000 February 600 6,150 March 575 6,350 April 450 5,400 May 525 6,150 June 550 6,050 July 625 6,300 August 325 5,200 September 400 5,200 Required: 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. (Round your Variable cost per unit to 2 decimal places.) Fixed Cost Variable Cost per cavity filled 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. 2. Using these estimates, calculate Mountain’s total cost for filling 425 cavities.
Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the following for the past nine months: Month Number of Cavities Filled Total Cost January 300 $5,000 February 600 6,150 March 575 6,350 April 450 5,400 May 525 6,150 June 550 6,050 July 625 6,300 August 325 5,200 September 400 5,200 Required: 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. 2. Using these estimates, calculate Mountain’s total cost for filling 425 cavities.
A hospital analyzed their patient data in the ICU and categorized patients into two types: short-term and long-term. The standard quantities of labor and materials for each type of patient for 2011 are:                                                            Short term                           Long term Direct Material (lbs                                9                                         21 Nursing labor (hrs.)                               2.5                                          5 Standard price paid for direct materials (per lb.): $              10.00 Standard rate for labor (per hour): $              16.00 Variable overhead rate for ICU (per hour): $              30.00 Fixed overhead rate for ICU (per hour): $              40.00 **VOH and FOH are applied (used) on the basis of direct labor hours Actual operating data for 2011 is as follows: Total short-term patients: 4,000…
A hospital analyzed their patient data in the ICU and categorized patients into two types: short-term and long-term. The standard quantities of labor and materials for each type of patient for 2011 are:                                                            Short term                           Long term Direct Material (lbs                                9                                         21 Nursing labor (hrs.)                               2.5                                          5 Standard price paid for direct materials (per lb.): $              10.00 Standard rate for labor (per hour): $              16.00 Variable overhead rate for ICU (per hour): $              30.00 Fixed overhead rate for ICU (per hour): $              40.00 **VOH and FOH are applied (used) on the basis of direct labor hours Actual operating data for 2011 is as follows: Total short-term patients: 4,000…
A hospital analyzed their patient data in the ICU and categorized patients into two types: short-term and long-term. The standard quantities of labor and materials for each type of patient for 2011 are:                                                            Short term                           Long term Direct Material (lbs                                9                                         21 Nursing labor (hrs.)                               2.5                                          5 Standard price paid for direct materials (per lb.): $              10.00 Standard rate for labor (per hour): $              16.00 Variable overhead rate for ICU (per hour): $              30.00 Fixed overhead rate for ICU (per hour): $              40.00 **VOH and FOH are applied (used) on the basis of direct labor hours Actual operating data for 2011 is as follows: Total short-term patients: 4,000…
A hospital analyzed their patient data in the ICU and categorized patients into two types: short-term and long-term. The standard quantities of labor and materials for each type of patient for 2011 are:                                                            Short term                           Long term Direct Material (lbs                                9                                         21 Nursing labor (hrs.)                               2.5                                          5 Standard price paid for direct materials (per lb.): $              10.00 Standard rate for labor (per hour): $              16.00 Variable overhead rate for ICU (per hour): $              30.00 Fixed overhead rate for ICU (per hour): $              40.00 **VOH and FOH are applied (used) on the basis of direct labor hours Actual operating data for 2011 is as follows: Total short-term patients: 4,000…
A hospital analyzed their patient data in the ICU and categorized patients into two types: short-term and long-term. The standard quantities of labor and materials for each type of patient for 2011 are:                                                            Short term                           Long term Direct Material (lbs                                9                                         21 Nursing labor (hrs.)                               2.5                                          5 Standard price paid for direct materials (per lb.): $              10.00 Standard rate for labor (per hour): $              16.00 Variable overhead rate for ICU (per hour): $              30.00 Fixed overhead rate for ICU (per hour): $              40.00 **VOH and FOH are applied (used) on the basis of direct labor hours Actual operating data for 2011 is as follows: Total short-term patients: 4,000…
A hospital analyzed their patient data in the ICU and categorized patients into two types: short-term and long-term. The standard quantities of labor and materials for each type of patient for 2011 are:                                                            Short term                           Long term Direct Material (lbs                                9                                         21 Nursing labor (hrs.)                               2.5                                          5 Standard price paid for direct materials (per lb.): $              10.00 Standard rate for labor (per hour): $              16.00 Variable overhead rate for ICU (per hour): $              30.00 Fixed overhead rate for ICU (per hour): $              40.00 **VOH and FOH are applied (used) on the basis of direct labor hours Actual operating data for 2011 is as follows: Total short-term patients: 4,000…
The administrator of Azalea Hills Hospital would like a cost formula linking the administrative costsinvolved in admitting patients to the number of patients admitted during a month. The Admitting Department’s costs and the number of patients admitted during the immediately preceding eight months are givenin the following table:Number of AdmittingMonth Patients Admitted Department CostsMay ........................... 1,800 $14,700June .......................... 1,900 $15,200July ........................... 1,700 $13,700August ....................... 1,600 $14,000September ................ 1,500 $14,300October ..................... 1,300 $13,100November ................ 1,100 $12,800December ................. 1,500 $14,600Required:1. Use the high-low method to estimate the fixed and variable components of admitting costs.2. Express the fixed and variable components of admitting costs as a cost formula in the formY a bX .
2. The administrator of ABC Hospital would like to know the relationship between the costs of admitting in relation to the number of patients being admitted and determine the cost formula. The following are the related data for the past five months that will be used determine such cost formula.Month | # of Patients Admitted |Admitting CostsJanuary 1,800 P 14,700February 1,900 P 15,200March 1,700 P 13,700April 1,600 P 14,000May 1,500 P 14,300The controller suggested to use the high-low method approach to derive for the cost formula. If the controller’s suggestion is to be followed:How much would be the total fixed costs?
Regis Place is a health-care facility that has been allocating its overhead costs to patients based on number of patient days. The facility’s overhead costs total $2,172,240 per year and the facility (which operates monthly at capacity) has a total of 60 beds available. (Assume a 360-day year.) The facility’s accountant is considering a new overhead allocation method using the following information: Rooms are cleaned daily; laundry for rooms is done, on average, every other day. d. Assume a patient stayed at Regis Place for six days. The patient was in a single room and required six hours of nursing care and 30 hours of physical therapy. 1. What overhead cost would be assigned to this patient under the current method of overhead allocation? $______ 2. What overhead cost would be assigned to this patient under the ABC method of overhead allocation? Rooms $ Laundry $ Nursing care $ Physical therapy $ General services $ Total $

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